EndoWays, which was established in 2018 by Tovy Sivan, Noam Shamay, and Tamir Ben David, is a portfolio company of MEDX Xelerator.
Fremont, CA: EndoWays, developer of a disposable robotic system for the cathlab, has announced the completion of an acquisition of a majority of its shares by Ascendum at an undisclosed cash amount.
EndoWays, which was established in 2018 by Tovy Sivan, Noam Shamay, and Tamir Ben David, is a portfolio company of MEDX Xelerator. During its incubation period, EndoWays developed a first-of-its-kind, completely disposable robotic system to support navigation as well as operation within blood vessels in peripheral, neurovascular, and cardiac procedures. The deal will offer EndoWays access to the vast experience and network of the Ascendum team, helping boost its clinical and commercial development, especially in China.
"Our vision is to provide an easy to use and cost-effective tool for the cathlab that will facilitate difficult procedures and allow physicians to work accurately through tortuous blood vessels away from radiation," stated Noam Shamay, EndoWays' founder and CEO. "With the support of Ascendum's experience and resources we can continue to make this vision a reality." Shamay will serve as the company's chief technology officer post-acquisition.
Prof. Chaim Lotan, who will step in as EndoWays' Chief Medical Officer stated, "The unique features of this robot can help navigate through torturous pathways and enable complex procedures. This, together with the reduced radiation exposure for the user through use of this system, makes this technology very attractive to interventional radiologists and cardiologists."
